At the Vietnam and World Economic Forum first quarter 2024 with the theme: "Identifying the first quarter 2024 Economy: Paving the Way for the Economy in 2024" organized by the University of Economics and Business (UEB) and Vietnam Economic Times, economic experts, managers and businesses shared many noteworthy observations about the economic picture in the past three months and forecast scenarios for the remaining quarters of 2024.

The seminar was attended by representatives of government agencies, economic experts, researchers as well as representatives of many associations and businesses in and outside the country. On the part of the University of Economics and Business - National University of Hanoi, there were Associate Professor Dr. Nguyen Anh Thu - Vice Rector; Associate Professor Dr. Nguyen Thanh Huong - Vice Dean of the Faculty of Economics & International Business; Dr. Nguyen Thi Vinh Ha, Head of the Department of Economics, Faculty of Development Economics.

In his opening remarks, Associate Professor Dr. Nguyen Anh Thu - Vice Rector of the University of Economics and Business - National University of Hanoi said: "In the framework of the cooperation agreement, the University of Economics and Business is very honored to cooperate with Vietnam Economic Times to organize today's seminar. This is considered an open forum for experts, researchers, business associations and businesses to share and discuss their knowledge and views on the current economic picture and propose appropriate solutions.

I believe that the seminar will be an opportunity to open up many meaningful dialogues and actions in the near future. It is important that stakeholders from academia, government, business sectors and society work together to maximize the economy's potential."

At the seminar, the experts shared many internal issues of the Vietnamese economy, the overall economic picture of Vietnam in the first quarter with promising indicators but still full of worries about short-term and long-term issues such as: not rich, already old and how to escape the middle-income trap... In general, economic experts have recommended a lot of close-knit content, if these recommendations are implemented, it will remove many difficulties for businesses to recover and develop.

Associate Professor Dr. Vu Thanh Huong, Vice Dean of the Faculty of Economics and International Business, University of Economics and Business (UEB), said: "Economies that depend on the supply chain and the Chinese market, including Vietnam, may face a decline in demand in many sectors from chemicals to electronics and machinery. Companies and countries may need to reconsider their business strategies and supply chains."

According to Dr. Can Van Luc, Expert, Chief Economist of BIDV, Member of the National Monetary and Fiscal Policy Advisory Council, in general, Vietnam's economy in the first quarter is recovering, however, it is also necessary to objectively recognize that this recovery and growth is based on the low base of the previous year. Specifically, the growth rate in the first quarter of 2023 was only 3.32%, which is a very low level. However, according to Mr. Luc, this year, growth drivers such as exports, investment and consumption are recovering quite positively.

Dr. Nguyen Dinh Cung, former Director of the Central Institute of Economic Management Research, gave a quite interesting comparison figure. In the first quarter of 2024, the total number of businesses in our country decreased by 14,000 businesses, an average of 4,700 businesses per month. The increase in the number of businesses withdrawing from the market in most sectors is a clear manifestation that businesses and the economy are facing significant difficulties and this situation raises many problems about the stability and development momentum of businesses, as well as the economy in the future.

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